Beyond Financial Wellness

Financial wellness programs come in many shapes and sizes. By and large they have failed to live up to their promise of helping participants reach their financial goals because they are underutilized and fail to provide the guidance that the participant needs. This does not have to be the case.

Most financial wellness programs are self-serve and for good reason. Scaling one-on-one meetings across a large number of plans and participants is difficult (the Wallet1000 Participant Engagement Platform is a 401(k) CRM that can help with this). Yet, the self-service model has large shortcomings. Typically, a participant is left to their own devices to wade through an ocean of content–much of which is not relevant or clickbait in nature–or provided personal finance calculators that allow them to create projections but lack the holistic context required for optimal decision-making.

People with means will hire a financial planner to examine the entirety of their current financial state and provide the guidance required to use their assets and income as the vehicles to achieve what they want out of life.

We need to bring that experience to everybody.

We need to move beyond financial wellness as an employee benefit and to financial planning as an employee benefit.

The level of planning sophistication that the wealthy require is not needed by most Americans. But many Americans still need help. They will benefit from receiving a simple and actionable financial plan that addresses their unique circumstances, their personal goals, and provides them a map to point them in the right direction.

Technology will not replace the CFP but it can provide the first financial plan for your employees and 401(k) plan participants. A plan that puts them on the path to pay down debt, buy a home, pay for college, and retire comfortably.

Everyone can benefit from a financial plan.

Reach out to find out how.